At this point you may be wondering what makes a product great? Well, I have the 5 qualifiers for a good product. if you don't have these five qualifiers, I need you to go back to the drawing board and that is no joke. These five qualifiers for your product will determine your success, and if you don't have them, you got a big problem.
Number one, is it a hot or wide-open market?
Because if it's not hot or wide-open market then you got some problems. You must have it that way. It just can't be any different. You can't go into a supersaturated market that has cooled off or is even cold. Can you imagine going to the crypto market now and trying to sell Bitcoin products, that is just not going to take off. There's going to be a few people that are interested in buying, but there's going to be a whole lot more people trying to sell, and it's going to be an oversaturated market, it would be terrible and you’re just not going to have any success with it.
Is the product a new opportunity?
Or is it the same old dang opportunity that everybody else is presenting to the market? We don't want the same old thing, right? Let’s use weight loss as an example, we don't want just another old diet. You want a diet that is unique, very specific, and has very specific goals. We want to bring a product to a market that has a problem, and we want to be the solution to the problem. If we're not the solution to the problem, then that hot market is not going to have any interest in our product. So, we want to hit them up with a new opportunity that they can't get anywhere else, that they have not got anywhere else, and that's not been presented to them.
Is there anyone doing it on YouTube?
I'm such a sucker for YouTube right now, because as I've said, many times and I keep saying it all the time, it's just mind-boggling to that there's two billion hours of content watched every day on YouTube. TWO BILLION HOURS OF CONTENT. So, are you seeing the product all over YouTube? Just because you see a bunch of people doing it does not mean that it’s oversaturated. But, if you see nobody doing it, then you got yourself a real winner because you're not going to be competing against anybody else and your ad cost and your bids are going to be extremely low.
Is there anyone right now using a nice hyper-optimized funnel with the product/offer?
Man, if you can say no, I have not seen any good funnels with my product, then you have yourself a real winner because you can create a great funnel. Most people don’t have great funnels anyways. But when you're out there and you see some of these internet marketers with fantastic, hyper optimize funnels, it makes life difficult because they are really converting well. They have a great ad, great landing pages that are driving them to great conversions. So, ask yourself that are there a lot of great funnels? For instance, if you want to open up a company that competed directly with ClickFunnels, that is going to be extremely difficult. Russell Brunson has done an amazing job marketing. And can you freaking imagine how much money you must spend to try and beat him out of the market? So, we don't want to do that. We want to make it easy.
Can you sell a high-ticket?
So, if you’re selling dog brushes, you are never going to be able to sell high ticket dog brush. You are never going to be able to sell a $500 or $600 dog brush, so that is probably not a good product. You want to pick a product that's going to be high ticket that people are willing to pay for or at the very least, if we're going into the big mass-market, we want to be able to drive them into your funnel that we can up sell them in.
Sure, it is hard to find a product that address is all five points, but I want to tell you right now, if you cannot find a product and make your product work with all these five, don't do it. Just don't do it. Just do not do it! Adjust your product or find a brand-new product because covering all